texas tech university€¦ · general revenue and higher education assistance funds from the state...

TEXAS TECH UNIVERSITY

SUMMARYOPERATING BUDGET

FISCAL YEAR 2015

TEXAS TECH UNIVERSITYFY 2015 SUMMARY OPERATING BUDGET

TABLE OF CONTENTS

ITEM PAGE NUMBER

FUND DEFINITIONS 1

SOURCE OF FUNDS CHART 2

EDUCATIONAL AND GENERAL FUNDS INCOME BUDGET 5 EXPENSE BUDGET 6 SPECIAL ITEMS BUDGET 7 HEAF BUDGET 8 COMPARISON BY METHOD OF FINANCE 9

DESIGNATED FUNDS INCOME BUDGET 11 EXPENSE BUDGET 12

AUXILIARY FUNDS INCOME AND EXPENSE BUDGET 16

CURRENT RESTRICTED FUNDS INCOME AND EXPENSE BUDGET 20

SUMMARY OPERATING BUDGET 22

TEXAS TECH UNIVERSITYSUMMARY OPERATING BUDGET

FUND DEFINITIONS

PAGE 1

EDUCATIONAL AND GENERAL FUNDS:

Appropriated

Other Educational and General Funds

NATIONAL RESEARCH UNIVERSITY FUNDS (NRUF)

DESIGNATED FUNDS:

AUXILIARY FUNDS:

CURRENT RESTRICTED FUNDS:

This funding may only be used to increase the research capacity at Texas Tech University by providing faculty salaries, equipment, fellowships, and other research related activities.

Unrestricted funds that are internally allocated for specific purposes (e.g. designated tuition, student fees, indirect costs, etc.).

Funds used to provide services for students, faculty, and staff which generally charge a fee directly related to the cost of the service provided (e.g. athletics, residence halls, hospitality services, traffic & parking, etc.). No appropriated funds can be used to support auxiliary operations.

Funds available for current purposes, the use of which is restricted by the donor/grantor to be utilized as stipulated by the funding source (e.g. research grants, scholarships, earnings from endowments, etc.).

Funds comprised of tax (General Revenue) funds in the state treasury and funds generated locally (Other E & G) by the University from students and other sources.

General Revenue and Higher Education Assistance Funds from the state treasury for administration, institutional expense, instruction and departmental research, physical plant operation, and other items related to instruction.

Funds generated locally by the University and reappropriated by the state (e.g. tuition, fees, interest earnings, etc.) to be used for administration, institutional expense, instruction and departmental research, physical plant operation, and other items related to instruction.

THIS PAGE INTENTIONALLY BLANK.


EDUCATIONAL AND GENERAL FUNDS

TEXAS TECH UNIVERSITYEDUCATIONAL AND GENERAL FUNDS

INCOME BUDGET

PAGE 5

ITEM FY 2014 FY 2015

TUITION AND FEESNET TUITION $50,000,000 $50,000,000GRADUATE TUITION 5,450,000 4,800,000LAW TUITION 2,880,000 2,880,000

SUBTOTAL TUITION $58,330,000 $57,680,000

ORGANIZED ACTIVITIES 660,527 580,527SUBTOTAL FEES $660,527 $580,527

TOTAL TUITION AND FEES $58,990,527 $58,260,527

OTHER EDUCATIONAL AND GENERAL INCOMEINTEREST EARNINGS 200,000 200,000MISCELLANEOUS 34,000 34,000

SUBTOTAL OTHER EDUCATIONAL AND GENERAL INCOME $234,000 $234,000

NATIONAL RESEARCH UNIVERSITY FUND $7,877,932 $8,815,807

HAZLEWOOD LEGACY PROGRAM $2,000,000 $0

STATE APPROPRIATIONSGENERAL REVENUE $145,393,803 $145,167,896HIGHER EDUCATION FUND 23,936,088 23,936,088

SUBTOTAL STATE APPROPRIATIONS $169,329,891 $169,103,984

TOTAL CURRENT FUNDS REVENUES $238,432,350 $236,414,318

NATIONAL RESEARCH UNIVERSITY FUND - FUND BALANCE $7,000,000 $2,000,000

TOTAL EDUCATIONAL & GENERAL REVENUE $245,432,350 $238,414,318

PERCENT CHANGE -2.9%


EXPENSE BUDGET

PAGE 6


FACULTY SALARIES $100,321,546 $97,221,781

HEAF 23,936,088 23,936,088

DEPARTMENTAL OPERATING SALARIES 14,612,824 14,719,001

EMPLOYEE BENEFITS 13,801,224 13,801,224

INSTITUTIONAL SUPPORT 11,363,507 11,740,064

NATIONAL RESEARCH UNIVERSITY FUND 14,877,932 10,815,807

DEBT SERVICE 9,053,414 9,051,741

INSTRUCTIONAL ADMINISTRATION 8,098,598 8,239,248

PHYSICAL PLANT 7,903,726 8,027,200

GRADUATE STUDENT SUPPORT 8,330,000 7,680,000

SPECIAL ITEMS - EXISTING 6,845,160 6,845,160

TPEG 6,400,000 6,400,000

COMPETITIVE KNOWLEDGE FUND 6,223,241 6,223,241

RESEARCH DEVELOPMENT FUND 5,098,396 5,098,396

ACADEMIC OPERATIONS SUPPORT 4,676,289 4,742,144

TEXAS TECH UNIVERSITY SYSTEM 1,710,587 1,753,337

STUDENT SERVICES 1,419,291 1,439,359

OTHER 760,527 680,527

TOTAL $245,432,350 $238,414,318

PERCENT CHANGE -2.9%


SPECIAL ITEMS BUDGET

PAGE 7


AGRICULTURAL RESEARCH $1,673,371 $1,673,371

MUSEUMS AND CENTERS 1,523,064 1,523,064

SMALL BUSINESS 1,350,477 1,350,477

ENGINEERING RESEARCH 643,447 643,447

LIBRARY ARCHIVAL SUPPORT 533,756 533,756

HILL COUNTRY EDUCATIONAL NETWORK 454,219 454,219

JUNCTION 258,346 258,346

EMERGING TECHNOLOGIES 237,480 237,480

FINANCIAL RESPONSIBILITY 171,000 171,000

TOTAL $6,845,160 $6,845,160

PERCENT CHANGE 0.0%

TEXAS TECH UNIVERSITYHIGHER EDUCATION ASSISTANCE FUNDS

CAPITAL FINANCING PLAN

PAGE 8


PROJECTSMAJOR PROJECTS $1,000,000 $1,000,000MINOR AND INTERMEDIATE 500,000 500,000DEFERRED MAINTENANCE 2,100,000 2,100,000DEBT SERVICE 6,124,858 6,124,858

TOTAL PROJECTS $9,724,858 $9,724,858

EQUIPMENTADMINISTRATIVE UNITS $150,000 $150,000PHYSICAL PLANT 950,000 950,000SYSTEM 450,000 0INFORMATION TECHNOLOGY 650,000 650,000ACADEMICS 3,500,000 3,500,000RESEARCH 1,800,000 1,800,000

TOTAL EQUIPMENT $7,500,000 $7,050,000

EMERGENCY RESERVE $1,500,000 $1,500,000STRATEGIC INITIATIVE 4,711,230 5,161,230SYSTEM MOVE 500,000 500,000

$6,711,230 $7,161,230

TOTAL $23,936,088 $23,936,088


DISTRIBUTION BY METHOD OF FINANCE

PAGE 9

ITEM General Revenue GR-Dedicated and NRUF FY 2015

FACULTY SALARIES $73,120,070 $24,101,711 $97,221,781

HEAF 23,936,088 0 23,936,088

DEPARTMENTAL OPERATING SALARIES $11,070,095 $3,648,906 14,719,001

EMPLOYEE BENEFITS 517,107 13,284,117 13,801,224

INSTITUTIONAL SUPPORT $8,829,650 $2,910,414 11,740,064

NATIONAL RESEARCH UNIVERSITY FUND 0 10,815,807 10,815,807

DEBT SERVICE 9,051,741 0 9,051,741

INSTRUCTIONAL ADMINISTRATION $6,196,702 $2,042,546 8,239,248

PHYSICAL PLANT $6,037,222 $1,989,978 8,027,200

GRADUATE STUDENT SUPPORT $5,776,094 $1,903,906 7,680,000

SPECIAL ITEMS - EXISTING 6,845,160 0 6,845,160

TPEG 0 6,400,000 6,400,000

COMPETITIVE KNOWLEDGE FUND 6,223,241 0 6,223,241

RESEARCH DEVELOPMENT FUND 5,098,396 0 5,098,396

ACADEMIC OPERATIONS SUPPORT $3,566,545 $1,175,599 4,742,144

TEXAS TECH UNIVERSITY SYSTEM 1,753,337 0 1,753,337

STUDENT SERVICES $1,082,536 $356,823 1,439,359

OTHER 0 680,527 680,527

TOTAL $169,103,984 $69,310,334 $238,414,318

This Schedule Complies with Article III, Section 6 of the General Appropriations Act.


DESIGNATED FUNDS

TEXAS TECH UNIVERSITYDESIGNATED FUNDS

INCOME BUDGET

PAGE 11


TUITION & FEES:DESIGNATED TUITION AND DEREGULATED TUITION $102,300,000 $108,675,600DESIGNATED TUITION - LAW DEREGULATED TUITION 3,690,000 3,011,040 DESIGNATED TUITION - NEED BASE FINANCIAL AID 12,528,194 13,128,039

OTHER GENERAL FEES:LIBRARY USE FEE 21,570,000 21,570,000ACADEMIC DEPT INSTRUCTIONAL ASSESSMENT FEE 18,319,263 20,261,851INFORMATION TECHNOLOGY FEE 18,150,000 19,270,000OTHER STUDENT FEES 16,090,692 16,244,626FINANCIAL AND RECORD SERVICES FEE 8,000,000 8,000,000TEXAS PUBLIC EDUCATION GRANT 6,400,000 6,400,000STUDENT RECREATION CENTER 4,615,750 4,630,750MEDICAL SERVICES FEE 4,485,000 4,485,000ENERGY FEE 4,000,000 4,000,000ADVISING FEE 3,352,780 3,398,280RAWLS CENTER FOR PROFESSIONAL DEVELOPMENT 3,684,000 3,362,000TRANSPORTATION FEE 3,100,000 3,100,000SPECIAL INSTRUCTION FEES 3,759,803 2,738,682ONLINE LEARNING AND DISTANCE ED FEE 0 1,750,000

STUDENT SERVICE FEES 10,508,920 11,181,410CORRESPONDENCE AND EXTENSION FEES 5,662,958 6,216,181

SUBTOTAL - TUITION AND FEES $250,217,360 $261,423,459

SALES & SERVICES OF EDUCATIONAL ACTIVITIES:SALES & SERVICES $58,147,332 $59,420,284LESS: SALES TO OTHER DEPARTMENTS (52,353,832) (53,855,945)

SUBTOTAL - SALES & SERVICES $5,793,500 $5,564,339

OTHER SOURCES:RECOVERY OF INDIRECT COSTS $8,800,000 $8,800,000INVESTMENT INCOME 1,745,625 1,789,000INTEREST INCOME 1,075,454 1,069,454OTHER MISCELLANEOUS INCOME 4,758,659 4,661,192

SUB-TOTAL - OTHER SOURCES $16,379,738 $16,319,646

TOTAL CURRENT DESIGNATED REVENUE $272,390,598 $283,307,444

UTILIZATION OF FUND BALANCE $9,436,673 $12,047,097

TOTAL DESIGNATED REVENUE $281,827,271 $295,354,541

PERCENT CHANGE 4.80%

TEXAS TECH UNIVERSITYDESIGNATED FUNDSEXPENSE BUDGET

PAGE 12


ACADEMIC SUPPORTLIBRARY SUPPORT $21,630,000 $21,630,000INFORMATION TECHNOLOGY 19,336,672 20,764,532ACADEMIC DEPT INSTRUCTIONAL ASSESSMENT FEE 18,329,263 20,286,851TEXAS PUBLIC EDUCATION GRANT 6,400,000 6,400,000SPECIAL INSTRUCTION FEES 3,773,312 2,767,815ONLINE LEARNING AND DISTANCE ED FEE 0 1,750,000OTHER ACADEMIC SUPPORT 18,527,527 18,418,626

SUBTOTAL ACADEMIC SUPPORT $87,996,774 $92,017,824

DESIGNATED TUITION SUPPORT & DEREGULATED TUITION FACULTY SALARIES $23,667,039 $30,413,001DEPARTMENTAL OPERATING EXPENSE 19,103,217 20,781,403UTILITIES 14,834,736 14,834,736PRESIDENT'S SCHOLARSHIP FUND 8,929,000 8,929,000GRADUATE FELLOWSHIPS, SCHOLARSHIPS AND AWARDS 7,344,996 5,344,998PRESIDENT'S GROWTH INITIATIVES 3,000,000 3,000,000TEXAS TECH SYSTEM TRANSFER 2,503,457 2,855,040RETIREMENT OF INDEBTEDNESS 2,551,072 2,551,688GRADUATE SUPPORT AND INITIATIVES 0 2,275,600COLLEGE DEVELOPMENT OFFICERS 1,825,130 2,113,086SUPPORT OF EDUCATION & GENERAL OPERATIONS 3,225,404 2,000,000FRINGES 1,502,211 1,502,211ACADEMIC ENHANCEMENT 1,232,394 1,480,807LAB SAFETY, RENOVATION & RETENTION 0 1,200,000STUDENT SERVICES AND INSTRUCTIONAL EQUIPMENT 1,057,536 1,085,929INSTITUTIONAL DIVERSITY EQUITY & COMMUNITY ENGAGEMENT 1,056,510 1,038,530OTHER INSTITUTIONAL TUITION TRANSFERS 14,700,949 13,875,681

SUBTOTAL - DESIGNATED TUITION $106,533,651 $115,281,710NEED BASE FINANCIAL AID 12,528,194 13,128,039LAW DEREGULATED EXPENSE 3,690,000 3,011,040

SUBTOTAL INSTITUTIONAL TUITION SUPPORT $122,751,845 $131,420,789

ALL OTHER INSTITUTIONAL SUPPORT $7,478,740 $7,714,669

STUDENT SERVICE SUPPORTSTUDENT SERVICE ACTIVITIES $12,910,398 $12,911,410STUDENT RECREATIONAL CENTER 4,615,750 4,630,750STUDENT HEALTH CENTER 4,614,769 4,614,769ADVISING ACTIVITIES 3,392,780 3,444,080OTHER STUDENT SUPPORT ACTIVITIES 17,013,341 16,485,957

SUBTOTAL STUDENT SERVICE SUPPORT $42,547,038 $42,086,966

CORRESPONDENCE AND EXTENSION STUDIES $5,674,358 $6,190,108

RECOVERY OF INDIRECT COSTS $8,800,000 $8,800,000

INTERNAL SERVICESUTILITIES, BOTH PLANTS $21,500,000 $21,500,000BUILDING/UTILITIES MAINTENANCE & MOTOR POOL 13,400,000 14,400,000COMMUNICATION SERVICES 6,150,000 6,100,000CENTRAL WAREHOUSE - STORES 1,450,000 1,450,000DEPARTMENTAL POSTAGE 1,350,000 1,350,000ALL OTHER INTERNAL SERVICES 9,019,859 10,339,514

SUBTOTAL INTERNAL SERVICES $52,869,859 $55,139,514

EXTERNAL SERVICES $6,062,489 $5,840,616

SUBTOTAL $334,181,103 $349,210,486

LESS: SALES TO OTHER DEPARTMENTS (52,353,832) (53,855,945)

TOTAL $281,827,271 $295,354,541



AUXILIARY FUNDS

TEXAS TECH UNIVERSITYAUXILIARY FUNDS

INCOME AND EXPENSE BUDGET

PAGE 16


REVENUE BUDGET

INTERCOLLEGIATE ATHLETICS $71,483,389 $76,409,669

RESIDENCE HALLS 34,110,000 39,000,000

HOSPITALITY SERVICES 34,000,000 35,878,650

STUDENT UNION 6,979,254 6,979,254

TRAFFIC AND PARKING / GARAGE OPERATION 5,328,000 5,478,000

OTHER SALES AND SERVICE 6,512,593 7,943,028

INVESTMENT REVENUES 348,501 280,501

TOTAL CURRENT AUXILIARY REVENUE $158,761,737 $171,969,102

UTILIZATION OF FUND BALANCE 3,678,957 779,764

TOTAL AUXILIARY REVENUE $162,440,694 $172,748,866

EXPENSE BUDGET

INTERCOLLEGIATE ATHLETICS $71,581,390 $76,459,670

RESIDENCE HALLS 37,110,000 39,000,000

HOSPITALITY SERVICES 34,100,000 35,978,650

STUDENT UNION 6,979,254 6,979,254

TRAFFIC & PARKING/GARAGE OPERATION 5,513,736 5,663,736

OTHER SALES AND SERVICE 7,156,314 8,667,556

TOTAL AUXILIARY EXPENSE $162,440,694 $172,748,866



CURRENT RESTRICTED FUNDS

TEXAS TECH UNIVERSITYCURRENT RESTRICTED FUNDS

INCOME AND EXPENSE BUDGETS

PAGE 20


SOURCES OF FUNDS

FEDERAL PROGRAMS $51,330,000 $51,330,000

STATE PROGRAMS 4,120,000 4,120,000

PRIVATE 39,542,000 39,542,000

ALL OTHER 5,008,000 5,008,000

TOTAL FUNDS FROM ALL SOURCES $100,000,000 $100,000,000

DISTRIBUTION BY COLLEGE OR AREA:

ADMINISTRATIVE AND OTHER $23,830,000 $23,830,000AGRICULTURAL SCIENCES 10,633,000 10,633,000ARCHITECTURE 402,000 402,000ARTS AND SCIENCES 9,026,000 9,026,000EDUCATION 3,803,000 3,803,000ENGINEERING 13,699,000 13,699,000FEDERAL FINANCIAL AID 28,867,000 28,867,000HUMAN SCIENCES 4,572,000 4,572,000MASS COMMUNICATIONS 321,000 321,000MULTIDISCIPLINARY RESEARCH CENTER AND INSTITUTE 177,000 177,000RAWLS COLLEGE OF BUSINESS 2,618,000 2,618,000SCHOOL OF LAW 1,199,000 1,199,000VISUAL AND PERFORMING ARTS 853,000 853,000

TOTAL DISTRIBUTION TO ALL COLLEGES AND AREAS $100,000,000 $100,000,000

PERCENT CHANGE 0.0%

TEXAS TECH UNIVERSITYSUMMARY OPERATING BUDGET

FISCAL YEAR 2015

PAGE 22

SOURCE OF FUNDSFUND ESTIMATED OTHER ESTIMATED

INCOME SOURCES EXPENSE

EDUCATIONAL & GENERAL $236,414,318 $2,000,000 $238,414,318 LESS TRANSFER TO DESIGNATED - TPEG (6,400,000)

AUXILIARY 171,969,102 779,764 172,748,866

CURRENT RESTRICTED 100,000,000 0 100,000,000

DESIGNATED 283,307,444 12,047,097 295,354,541 LESS TRANSFER FROM EDUCATIONAL & GENERAL - TPEG (6,400,000)

TOTAL $785,290,864 $14,826,861 $800,117,725

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